Majority employee buyout and Walter GAM minority stake reshape Montrusco Bolton’s ownership
Montreal-based independent asset management firm Montrusco Bolton Investments Inc. has undergone a major change in its ownership structure as its leadership and broader employee base now hold majority equity after joining forces with private equity partner Walter Global Asset Management.
A cohort of staff, led by the firm’s management team, has acquired control of the company’s capital, while Walter GAM has taken a minority position through a dedicated asset-management industry fund.
The restructuring builds on a solid foundation of employee shareholding — about 70% of the firm’s personnel were already shareholders — with the objective of tightening alignment across the business and increasing operational nimbleness to support long-term, client-centric expansion.
“With a simplified shareholder structure that offers greater agility and a partner like Walter GAM at our side, we are well positioned for the future,” said Sylvain Boulé, President and CEO of Montrusco Bolton. “The Walter GAM team is a natural fit for us, due to its expertise, entrepreneurial culture, client focus and long-term commitment, in addition to being perfectly aligned with our vision as we enter this next phase of growth.”
“Montrusco Bolton fits perfectly with our fundamental investment criteria, which are reflected in the 14 other complementary firms in our portfolio: independent companies, led by high-quality teams, with whom we share a long-term vision,” explained Sylvain Brosseau, CEO and Founding Partner of Walter GAM.
The transaction also involves the exit of long-standing partners Affiliated Managers Group (AMG) and Fonds de solidarité FTQ, who for more than 15 years supported Montrusco Bolton and have sold their interests as part of this transition.
This move reflects broader trends in the asset management sector where leadership-driven majority ownership models, often backed by strategic capital providers, are seen as ways to reinforce cultural coherence while accessing scalable growth resources.
The deal formally closed on December 31, 2025, setting the stage for this new chapter as the firm continues to serve institutional clients across North America, Europe, Asia and Australia.
